ISLAMABAD – Pakistani government raised the petroleum levy by Rs10 per liter to a maximum of Rs70 per litre as fuel prices remained unchanged for the next fortnight.
This price adjustment increases levy on petrol and high-speed diesel to a maximum of Rs70 per liter as part of the coalition government’s commitment to meeting the conditions set by the International Monetary Fund (IMF).
The global lender sought hike in levy as requirement for the continuation of its loan program. The increase in levy is expected to help bridge tax revenue shortfalls and maintain fiscal discipline. Muhammad Sohail, CEO of Topline Securities, emphasized that move is necessary to meet the government’s financial obligations.
Although government had option to reduce fuel prices, this decision effectively blocks any relief for consumers, keeping the financial burden on the public. Meanwhile, the government is preparing to provide some relief in electricity bills through tax adjustments, which will be funded by collecting additional taxes from the population.
The increase in the petroleum levy is seen as a key step to meet IMF requirements, ensuring the country’s access to much-needed financial support but also continuing the pressure on citizens already grappling with rising costs.
With revised prices, the current Price of Petrol stays at Rs255.63 while Diesel price remained at Rs258.64.
